Liberty Global (LGI) has completed its takeover of UK cableco Virgin Media.
Earlier this week shareholders of both companies approved the US$23.3bn transaction that was agreed in early February.
Following the closing of the transaction Tom Mockridge…
Liberty Global (LGI) has completed its takeover of UK cableco Virgin Media.
Earlier this week shareholders of both companies approved the US$23.3bn transaction that was agreed in early February.
Following the closing of the transaction Tom Mockridge has today also taken over as new CEO from Neil Berkett. Mockridge used to work for Rupert Murdoch’s News International. In his new post he will directly compete with another Murdoch-controlled business, cable TV provider BSkyB.
As part of the deal, Liberty will shift its official domicile from Delaware in the US to the UK as it becomes a subsidiary of a new UK plc holding company.
Liberty Global said today that the new holding will begin trading on 10 June and Virgin Media, as well as the old Liberty Global, Inc., will be delisted the same day.
